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      Webinar: Using passion for ESG to unleash member engagement

      This webinar will look at how pension schemes can harness their members’ interest in ESG to engage them more broadly with their pensions. In particular, it will look at exclusive research showing how members are reacting to ESG; their propensity to act versus their actual behaviour; and the expectations they have of providers in this regard.

      • Date: 26 Jan 2021
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      Investment Conference

      This two part Investment Conference will bring you the latest updates from economists, asset managers and pension consultants. We will be taking a look at the outlook for the 2021 economy, alternatives, cashflow strategies and global equity markets to name a few, assessing how they fared through the volatility and what we can expect for the year ahead.

      • Date: 27 Jan 2021
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      Webinar: What to put on your GMP Equalisation project roadmap for 2021

      This webinar will bring together views from actuaries, lawyers, administrators, trustees and data experts to look at the pragmatic, collaborative solutions that are open to schemes to solve the GMP equalisation challenges in 2021. It will assess the individual challenges schemes face with equalisations and provide some practical options that are available to resolve these issues.

      • Date: 02 Feb 2021
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      Webinar: Will the world return to normal in 2021?

      In this webinar, PP editor Jonathan Stapleton will be joined by BMO’s chief economist Steven Bell and director of fiduciary management, Christy Jesudasan, alongside PTL trustee director Melanie Cusack and Isio’s head of fiduciary management oversight Paula Champion to discuss the significant impact of these themes on the pensions sector.

      • Date: 04 Feb 2021
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  • Whitepapers
    • How DC schemes can gain exposure to different asset classes in a low-return environment

      So far, DC plans have largely been focused on the onset of auto-enrolment and changes to the regulatory framework - be it the ‘charge cap,' ‘pension freedoms' or consultations around ‘value for money', says Annabel Tonry, Executive Director at J.P. Morgan Asset Management (JPMAM).

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      Pension freedoms three years on

      In 2015 George Osborne, then the UK Chancellor of the Exchequer, decided that those age over 55 could take much more of their pension in cash. This has since opened up a range of possibilities for DC scheme members in the world of pensions.

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bulk annuity

Evonik scheme completes £544m full buy-in with L&G
Evonik scheme completes £544m full buy-in with L&G

The defined benefit (DB) scheme of Evonik Holdings UK has agreed a £544m full buy-in with Legal & General (L&G) Assurance Society.

  • Risk Reduction
  • 19 January 2021
Marie Curie completes £30m buy-in with L&G in first 2021 deal
Marie Curie completes £30m buy-in with L&G in first 2021 deal

The Marie Curie defined benefit (DB) scheme has entered into a circa £30m full scheme buy-in agreement with Legal & General (L&G) Assurance Society.

  • Risk Reduction
  • 14 January 2021
Buy-in and buyout volumes to reach £30-£40bn in 2021; Superfund 'floodgate' may open
Buy-in and buyout volumes to reach £30-£40bn in 2021; Superfund 'floodgate' may open

Between £30bn and £40bn of pension risk is expected to be transferred to insurers via buy-ins and buyouts this year, Aon says.

  • Risk Reduction
  • 04 January 2021
Maersk agrees £1.1bn buy-in with L&G
Maersk agrees £1.1bn buy-in with L&G

The Maersk Retirement Benefit Scheme has agreed a £1.1bn buy-in with Legal & General (L&G) Assurance Society, protecting benefits for around 4,900 members.

  • Risk Reduction
  • 16 December 2020
Aon agrees £510m buy-in with Scottish Widows
Aon agrees £510m buy-in with Scottish Widows

The Aon Retirement Plan has completed a £510m pensioner buy-in with Scottish Widows, insuring members in the Aon Bain Hogg Pension Scheme section.

  • Risk Reduction
  • 15 December 2020
Pension schemes urged to avoid 'over-reacting' to impact of Covid-19
Pension schemes urged to avoid 'over-reacting' to impact of Covid-19

Aon has urged the pensions industry to avoid over-reacting to the impact of Covid-19, as it predicts another huge year for the UK risk settlement industry in 2021.

  • Industry
  • 11 December 2020
What Covid-19 means for longevity and bulk annuities
What Covid-19 means for longevity and bulk annuities

Darryl Brundle and Ashley Kanter look at the contrasting pressures and easements on longevity associated with the pandemic

  • Risk Reduction
  • 13 October 2020
Self-sufficiency falls in popularity as long-term objective
Self-sufficiency falls in popularity as long-term objective

Fewer pension schemes are targeting self-sufficiency as their long-term objective while bulk annuity pricing improves and the consolidation market opens up.

  • Risk Reduction
  • 08 October 2020
Schemes to transfer £50bn of risk to insurers this year
Schemes to transfer £50bn of risk to insurers this year

Around £50bn of risk will be transferred to the bulk annuity and longevity swap market by the end of the year despite a slow start to the market, Aon says.

  • Risk Reduction
  • 05 October 2020
Marathon Service scheme agrees £610m full buy-in with Rothesay Life
Marathon Service scheme agrees £610m full buy-in with Rothesay Life

The Marathon Service (GB) Limited Pension and Life Assurance Scheme has completed a £610m full buy-in with Rothesay Life, covering the benefits of more than 1,400 members.

  • Risk Reduction
  • 01 September 2020
Just Group completes £460m of de-risking deals in H1
Just Group completes £460m of de-risking deals in H1

Just Group completed £460.3m of bulk annuity deals in the six months to 30 June, its half-year results have revealed.

  • Risk Reduction
  • 13 August 2020
Littlewoods scheme completes £930m buy-in with Rothesay Life
Littlewoods scheme completes £930m buy-in with Rothesay Life

The Littlewoods Pensions Scheme has completed a buy-in covering just under £930m of around 6,500 members’ benefits with Rothesay Life, the majority of which relate to deferred members.

  • Risk Reduction
  • 12 August 2020
Phoenix reports small profit hike as bulk annuities top £1bn
Phoenix reports small profit hike as bulk annuities top £1bn

Phoenix Group has reported a £36m increase in group operating profit in the first six months of this year, as well as strong cash generation of £433m.

  • Industry
  • 06 August 2020
Aviva profits dented by Covid-19 but bulk annuities offset fall
Aviva profits dented by Covid-19 but bulk annuities offset fall

Aviva’s operating profit fell by 11% in the first half of the year as Covid-19 hit business activity, although a growth in bulk annuity sales partially offset the drop.

  • Industry
  • 06 August 2020
LV= converts longevity swap into £800m buy-in with Phoenix Life
LV= converts longevity swap into £800m buy-in with Phoenix Life

The LV= Employee Pension Scheme has agreed a buy-in of around £800m with Phoenix Life after converting an existing longevity swap.

  • Risk Reduction
  • 28 July 2020
Bulk annuities help sponsors outperform peers on share prices
Bulk annuities help sponsors outperform peers on share prices

Sponsors whose pension schemes complete buy-ins or buyouts tend to outperform their peers by between 0.25% and 3% on average, Mercer research finds.

  • Risk Reduction
  • 25 June 2020
Bulk annuity 'end of year sale' possible as total volumes expected to halve
Bulk annuity 'end of year sale' possible as total volumes expected to halve

Covid-19 has caused a slowdown in the number of bulk annuity transactions, with buy-ins and buyouts expected to amount to a maximum of £25bn this year, Willis Towers Watson says.

  • Risk Reduction
  • 22 June 2020
How the GHG scheme learned from one crisis to complete a buy-in during another
How the GHG scheme learned from one crisis to complete a buy-in during another

Twelve years after its funding level was hit severely by the global financial crisis, the GHG pension scheme completed a £150m buy-in amid the Covid-19 economic chaos. James Phillips speaks to the key players about the journey.

  • Risk Reduction
  • 19 June 2020
L&G agrees £650m buy-in with 3i scheme
L&G agrees £650m buy-in with 3i scheme

The 3i Group Pension Plan has agreed a £650m buy-in with Legal & General (L&G), insuring the remaining benefits within the scheme.

  • Risk Reduction
  • 27 May 2020
L&G announces bulk annuities with UK and US schemes
L&G announces bulk annuities with UK and US schemes

Legal & General has agreed two bulk annuity deals worth £116.2m with UK- and US-based IHS Markit schemes.

  • Risk Reduction
  • 13 May 2020
Co-op agrees £350m buy-in with Aviva
Co-op agrees £350m buy-in with Aviva

The Co-operative Pension Scheme (Pace) has entered into its fourth bulk annuity transaction of 2020, agreeing a £350m buy-in with Aviva.

  • Risk Reduction
  • 13 May 2020
Agreeing bulk annuities in a crisis
Agreeing bulk annuities in a crisis

After a bumper year, insurers are now facing a slower and smaller pipeline as schemes grapple with Covid-19, writes James Phillips.

  • Risk Reduction
  • 04 May 2020
Leonardo Electronics completes £160m buy-in with Just
Leonardo Electronics completes £160m buy-in with Just

The Leonardo Electronic Pension Scheme has concluded a £160m pensioner buy-in with Just Group in the scheme’s first risk transfer exercise.

  • Risk Reduction
  • 29 April 2020
Bulk annuity volumes still to hit £25bn this year
Bulk annuity volumes still to hit £25bn this year

Around £25bn of buy-ins and buyouts are set to be transacted this year despite the Covid-19 challenges, according to Lane Clark & Peacock (LCP).

  • Risk Reduction
  • 17 April 2020
123

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